IMF Staff Concludes Virtual Visit to Georgia
An International Monetary Fund (IMF) team led by Mr. James John held virtual meetings with the Georgian authorities during July 13-21, 2023 to discuss recent economic and financial developments and progress on reform priorities.
IMF Executive Board Concludes 2023 Article IV Consultation with Tuvalu
A successful vaccination strategy allowed Tuvalu to lift COVID containment measures at the end of 2022, but the economic cost of the pandemic has been significant. Real GDP growth was -4.3 percent in 2020, with at-the-border containment measures leading to delays in much-needed infrastructure projects. Activity has not fully recovered to its pre-pandemic level, with growth in 2021 at 1.8 percent and estimated at 0.7 percent for 2022. Headline inflation rose to 11.5 percent in 2022 in the context of higher global inflationary pressures, an increase in transportation costs around the world, and the increase in global food prices in the wake of Russia’s invasion of Ukraine. Fiscal savings from the pandemic-related reduction in public investment were partly offset by elevated spending on non-capital items.
Tanzanian President meets African Development Bank to advance post-Dakar 2 Africa Food Summit agricultural transformation
President of the United Republic of Tanzania H.E. Samia Suluhu Hassan and Bank Vice President Dr. Beth Dunford, with their respective delegations at Tanzania’s State House in Chamwino, Dodoma.
Mozambique: Prime Minister Maleiane commends African Development Bank Group’s partnership during visit by Bank Vice-President Akin-Olugbade and team
(From left to Right): Bank Director-General for Southern Africa, Leila Farah Mokaddem; Mozambican Prime Minister Adriano Maleiane;Bank Vice President for Regional Development, Integration and Business Delivery, Marie-Laure Akin-Olugbade; and Bank Country Manager for Mozambique, Cesar Augusto Mba Abogo
African Development Bank appoints Max Magor Ndiaye as Director of Syndication, Co-financing and Client Solutions Department
The African Development Bank has appointed Mr Max Magor Ndiaye as Director of the Syndication, Co-financing and Client Solutions Department, effective 1st July 2023.
Ndiaye, a US national, is a structured finance, risk management, and capital markets professional with over 20 years of international...
Zimbabwe hosts 5th structured dialogue on debt with creditors
Since late 2022, the government of Zimbabwe has been engaged in a concerted process to resolve its official debt and clear its arrears with international creditors, including the African Development Bank.
Mobilising capital for Africa’s prosperity: Second Annual Meeting of Africa Sovereign Investors Forum highlights importance of strategic partnerships
African Development Bank Vice President for Private Sector, Infrastructure, and Industrialisation Solomon Quaynor has called for unity to unlock the potential of African sovereign wealth funds, strategic investment funds, pensions, and life insurance assets, estimated at $2.3 trillion.
Côte d’Ivoire: African Development Bank extends €400 million in Partial Credit Guarantees to mobilize funds for ESG projects
The African Development Bank grants Côte d'Ivoire a €400 million partial credit guarantee to help it mobilize financings from commercial banks for strategic environmental, social and governance (ESG) projects.